Best New Car Deals: October 2024

Ford is heavily discounting the 2024 Expedition this month. With the redesigned 2025 Expedition set to arrive, the outgoing generation has as much as a $5,000 rebate on purchases.

Through January 2nd, the incentive can be found in regions like Boston, Chicago, Los Angeles, Phoenix, San Francisco, and Seattle. This marks the biggest single discount to date on the current Expedition.

The 2024 BMW XM has steep discounts this month. All versions of the sporty plug-in hybrid feature a $15,000 incentive whether you buy or lease. Additionally, BMW Financial is offering 3.99% APR financing for up to 60 months. And that's all before dealer discounts for this slow-selling plug-in.

The 2024 Jeep Grand Cherokee has some of the largest discounts on an SUV with up to $9,500 in potential savings. 3-row Grand Cherokee L Overland models feature $6,000 in Retail Bonus Cash that can be stacked with $1,500 in Retail Customer Cash. Returning Stellantis lessees may also qualify for a $2,000 discount.

Altogether, that's $9,500 off MSRP. Shoppers should be aware that Grand Cherokee incentives vary by trim with smaller rebates on the entry-level Laredo model. Current incentives are set to end on October 31st. We think there's a good chance that Jeep may introduce Black Friday deals sometime later next month.

All 2025 Dodge Durangos are currently eligible for a Power Dollars Bonus Cash incentive. Interestingly, despite being a 2025 model, SRT Hellcats aren't excluded and offer a whopping $7,100 in savings off MSRP. Note that the Power Dollars deals are limited to purchases and aren't available on leases.

A slew of incentives can enable you to save big on a 2024 Cadillac LYRIQ. First, EVs ineligible for the federal tax credit qualify for $7,500 in Ultium Promise Bonus Cash from GM. Additionally, competing EV owners can score $3,000 in conquest cash. That's $10,500 in potential savings off MSRP this month.

The 2024 BMW 7-Series has massive discounts. For example, the 740i has a $4,000 APR Credit that can be stacked with 3.49% APR financing for 72 months. Additionally, returning BMW customers may also qualify for a $5,000 BMW Loyalty APR Credit. That's $9,000 off MSRP plus low-interest financing.

The 2024 Genesis G80 EV has some of the biggest discounts on a luxury car. The Advanced trim features a whopping $22,500 lease cash incentive good for nearly 30% off MSRP. While we still don't consider this a cheap car to lease, this could present a surprisingly attractive upgrade from the gas model.

The 2024 Hyundai IONIQ 6 has one of the largest discounts on any car, EV or otherwise. Since it isn't eligible for a federal tax credit, Hyundai is offering $7,500 in Retail Bonus Cash. On the entry-level SE Standard Range trim, that can mean a 19.4% discount off MSRP. And that's before dealer discounts.

Having said that, the IONIQ 6 continues to benefit from big discounts for leasing. On a 36-month lease, our analysis found that you can score up to an $11,000 lease cash incentive. To get the best deal, consider asking your dealer about a one-pay lease which may help get you the lowest rate possible.

The 2024 Mercedes EQS continues to have deep discounts as dealers struggle to clear lots of outgoing inventory. The regular EQS has a $13,500 Mercedes Incentive Bonus that you won't see advertised. The higher-performance AMG EQS has an even larger incentive worth $15,000 off MSRP.

Additionally, the EQS SUV has a $9,000 discount, with the EQS 580 featuring a $12,500 incentive. Since these are unadvertised manufacturer-to-dealer incentives, you may need to shop around to find a dealer willing to pass along the full amount. Expect to be able to negotiate a great price.

Dodge Charger SXT, GT, and R/T models are eligible for Power Dollars through October 31st. As before, this $10-per-horsepower rebate offers up to $3,700 in savings on the 370-horsepower Charger R/T. Just be aware that the high-powered Charger's SRT variants remain excluded from the promotion.

Dodge is continuing to offer a $10-per-horsepower Power Dollars deal on SXT and R/T Challengers. In the case of the 375-horsepower R/T, that's worth $3,750 in savings. Note that SRT Challengers are excluded and that Power Dollars rebates are only available when buying and not when leasing.

The 2025 RAM 1500 has some of the biggest discounts on any truck. Through October 31st, the heavily revised pickup has a generous combination of rebates. Nationally, there's $1,500 in Bonus that can be stacked with $4,000 in Retail Consumer Cash.

In California, Chrysler Capital is offering an additional $2,000 in Bonus Cash when financing. That's $7,500 in savings, the most we've seen to date. Based on what we've seen in the past, there may be a chance that Black Friday deals could emerge next month.